Newgen Software Technologies has announced securing a significant order worth ₹16.53 crore, marking an important business milestone for the IT software company. This contract win highlights Newgen Software Technologies' continued success in attracting substantial orders in the competitive software solutions market.

Order Details

The company has successfully secured this order, which represents a notable addition to its business portfolio. The order value demonstrates the scale and significance of the contract for Newgen Software Technologies' operations.

Business Impact

This order acquisition strengthens Newgen Software Technologies' position in the software solutions sector. The contract is expected to contribute positively to the company's revenue pipeline and demonstrates its ability to secure meaningful business opportunities in the market.

The order win reflects the company's competitive capabilities and market presence in delivering software solutions to clients. Such contract acquisitions are crucial for maintaining business momentum and supporting the company's growth trajectory in the IT software industry.

Conclusion

Newgen Software Technologies' success in securing this ₹16.53 crore order reinforces its business portfolio and market position in the software solutions sector. This development is likely to have a positive impact on the company's overall performance and future prospects in the competitive IT industry.

Newgen Software Technologies Limited has secured a substantial purchase order valued at ₹16.53 crores from a leading Indian bank. The order covers comprehensive services including supply, installation, customization and maintenance of a Digital Lending Platform, marking a significant business development for the IT software company.

Order Details and Specifications

The company disclosed the material event, providing comprehensive details about the contract under SEBI regulations. The order encompasses a complete digital lending solution that will be delivered to the banking client over an extended period.

Contract Characteristics

The purchase order represents a domestic contract, with the banking client being situated within India. Newgen Software Technologies has maintained confidentiality regarding the customer's identity, withholding the bank's name due to confidentiality agreements. The comprehensive nature of the order includes not just software supply but also complete installation, customization according to client requirements, and ongoing maintenance services.

Regulatory Compliance and Transparency

Newgen Software Technologies has confirmed that this transaction does not constitute a related party transaction as defined under the Companies Act, 2013. The company has no promoter or group company interests in the entity that awarded the contract, ensuring complete independence in the business relationship.

Business Impact

The ₹16.53 crore order represents a significant addition to Newgen Software Technologies' order book, particularly in the digital lending segment. The three-year execution timeline provides revenue visibility and strengthens the company's position in the banking technology sector. The comprehensive service offering demonstrates the company's capability to deliver end-to-end digital transformation solutions for financial institutions.

The material event disclosure was made in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring complete transparency with stakeholders and regulatory authorities.